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Autonomous Vehicles FinTech Freight Service Insurance InsurTech Logistics North America Transportation

Trucking Insurer Koffie Labs Raises $4.5 Million

– Koffie Labs (Koffie), an insurtech focused on reinventing the trucking and transportation markets, today announced it has raised $4.5m in venture financing.
Anthemis Group and Lerer Hippeau led two rounds of seed round financing with participation from 2048 Ventures, Plug and Play Ventures and C2 Ventures.
– Trucking insurance is an essential component of the broader $800b trucking industry and the backbone of the US economy. With commercial auto rates consistently increasing over the last decade, there are few viable options for fleets.
– Koffie uses telematics and advanced safety technology to underwrite trucking companies, rewarding fleets that invest in safety with discounted insurance premiums.

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Electric Vehicle North America Retail Transportation Travel

SUPER73 Snares $20M Investment

– SUPER73, an electric vehicle brand based out of Orange County, has closed a $20m investment from Volition Capital, a Boston-based growth equity firm.
– Founded in 2016 by LeGrand Crewse, Michael Cannavo, and Aaron P. Wong, SUPER73 produces two-wheeled electric vehicles with a mission to fuse motorcycle heritage and youth culture.

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Charter Schools Europe Public Transportation Ride Sharing Transportation Travel

BusUp Raises $6M in Series A Funding

– BusUp is a Spanish corporate bus commuter management solution in the E.U. and LatAm.
– The company closed its $6m Series A financing.
– The round was led by Proeza Ventures, and supported by US transportation venture capital firm Autotech Ventures (investor in Lyft and Volta Charging), and IESE’s Business School venture fund Finaves V, among others.
– The company intends to use the funds to accelerate commercialization of its flexible and shared corporate commuting services in the United States and consolidate other existing markets.
– It will also be used to scale the technology and develop new products.

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Artificial Intelligence Logistics North America Software Transportation

SmartHop Secures $12M in Series A Funding

– SmartHop from Miami, FL, is a tech-enabled platform giving truckers easy load booking, end-to-end back-office support, and above-market RPMs so they can truck smarter not harder.
– The company announced a $12m Series A financing round, led by Union Square Ventures with participation from RyderVentures – a new corporate venture capital fund by leading logistics company Ryder System; as well as Equal Ventures and Greycroft.

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CleanTech Electric Vehicle Manufacturing North America Transportation

Rad Power Bikes Inks $150M

– Rad Power Bikes, North America’s largest ebike brand, today announced a minority investment of $150m from Counterpoint Global (Morgan Stanley), Fidelity Management & Research Company, The Rise Fund, the global impact investing platform managed by TPG, and funds and accounts advised by T. Rowe Price Associates, Inc.
– Existing investors Durable Capital Partners LP and Vulcan Capital also participated in the round.
– The investment reflects a historic commitment to Rad Power Bikes’ vision of a world where transportation is energy-efficient, enjoyable and accessible to all.
– Rad Power Bikes will use this new funding to extend its market leadership, drive innovation, and scale retail and service offerings.

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Automotive CarSharing Europe RideSharing SaaS Software SubscriptionService Transportation

Vulog Raises $31M in Funding

– Vulog is a new mobility technology provider based in Nice, France.
– The company raised $31m in Series B funding.
– The round was led by the European Investment Bank (EIB) and its current investors, which are Frog Capital, ETF Partners, Inven Capital, and Bpifrance.
– The new investment will be used to accelerate the company’s AI-powered services for the world’s leading OEMs (Volkswagen, Stellantis, Kia Motors, Mocean), as well as new mobility providers (Repsol, Sumitomo Corporation and British Columbia Automobile Association, among others).

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